Should Zillow Need Appraisal License?

[djd09]

I hope they win the lawsuit. If zillow or any person or computer are going to roll numbers , they should be liable.

 

[J Grant]

Zillow is not engaged by a client, it is engaged by an unknown person from the public, clicking for an instant "zestimate" . ( similar to AVM I presume) Zillow can call it an "appraisal," but clearly anyone relying on it as they would a "real" appraisal is an idiot....yet it is the public's right to be idiots and rely on a free click service if they wish to.

Zillow makes its money from advertising and RE related such as listings, RE agents signing up for leads etc. A free "appraisal" is a gimmick to draw people to the site and get them clicking to bolster ad rates and feed leads to agents etc.

 

[timd354]

Arizona Board of Appraisal lost a lawsuit baring Zillow from doing appraisals in AZ

That would be because Zillow was does not perform appraisals.

 

[gregb]

https://www.zillow.com/zestimate/

 

[J Grant]

says right on their site their "Zestimate" is not an appraisal...how much simpler can it be? To Zillow's credit they recommend people get a professional appraisal.

 

[Terrel L. Shields]

Buyers consult Zillow and do rely upon them. An errant Zestimate has a negative impact one way or the other. The suit argues Zillows lowball estimate is impairing the seller (a real estate lawyer) from selling. She asks no money only they bring their estimate in line with what she argues is the actual value.

 

[Eli]

They are getting sued by a skilled real estate attorney?

 

[J Grant]

that's funny!

 

[Tim The Enchanter]

Wash their mouths out with Zest. That's how accurate they are.

Certain people could use a couple cases of Zest to wash out their big mouths.

 

[Amy Perkins]

Zillow is not engaged by a client, it is engaged by an unknown person from the public, clicking for an instant "zestimate" . ( similar to AVM I presume) Zillow can call it an "appraisal," but clearly anyone relying on it as they would a "real" appraisal is an idiot....yet it is the public's right to be idiots and rely on a free click service if they wish to.

Zillow makes its money from advertising and RE related such as listings, RE agents signing up for leads etc. A free "appraisal" is a gimmick to draw people to the site and get them clicking to bolster ad rates and feed leads to agents etc.

Maybe we should do appraizals and not even get licensed...